GBP/USD IG Client Sentiment: Our data shows traders are now net-long GBP/USD for the first time since Oct 15, 2021 when GBP/USD traded near 1.37.
Number of traders net-short has decreased by 4.14% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
GBP/USD: Retail trader data shows 50.89% of traders are net-long with the ratio of traders long to short at 1.04 to 1. In fact, traders have remained net-long since Oct 15 when GBP/USD traded near 1.37, price has moved 0.06% lower since then. The number of traders net-long is 22.41% higher than yesterday and 6.77% higher from last week, while the number of traders net-short is 11.94% lower than yesterday and 4.14% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests GBP/USD prices may continue to fall.
Our data shows traders are now net-long GBP/USD for the first time since Oct 15, 2021 when GBP/USD traded near 1.37. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/USD-bearish contrarian trading bias.
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